Net worth tracking
Login Sign Up
Become a Premium Member
  • All Opinions
  • Top Picks
  • Experts
  • Companies
  • Discover
Watch List
Home » Daily

Markets plunge on rising Covid cases

Allan Tong Posted On October 28, 2020
0
0
Shares
  • Share On Facebook
  • Tweet It

After European markets slid 3-4% overnight, North American ones sold off heavily on Wednesday due to rising Covid cases in Europe and talks of lockdown measures. America is also seeing an increase in cases while Canadian numbers are concerning. Unsurprisingly, the main American indices plummeted around 3.5%, with selling across the board in all sectors. The TSX fell, too, though not as much at -2.71%.

The Toronto index was weighed down by rising stockpiles of U.S. crude, which pressured the price of WTI and WCS down by nearly 6%. Against this sell-off was the anxious backdrop of the U.S. vote less than a week away and no stimulus package until after that vote.

Even tech heavyweights were caught in the crossfire. Microsoft slid nearly 5%, despite reporting a decent quarter, including an EPS beat, after the bell Tuesday. Apple, which reports on Thursday, shed 4.63%. Halliburton slid 8.71%. A surprising oasis was GE, which popped 4.51% after reporting a surprise Q3 earnings beat. On this side of the border, the Bank of Canada announced it would hold interest rates steady into 2023. Unrelated to that news, Pollard Banknote jumped 5.38% after winning a new lottery contract. Otherwise, there was widespread selling, with Shopify down nearly 4% and Agnico Eagle shedding 4.66%.

Ⓜ Microsoft -5%
🍎 Apple -4.63%
🛢 Halliburton Co -8.71%
♻ General Electric +4.51%
🏛 Pollard Banknote Ltd +5.38%
🛍 Shopify Inc. -4%
🥇 Agnico-Eagle Mines -4.66%

0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Air Canada, Shell plc and 19 Stock and 1 ETF Top Picks (Jun 17-23)
Melisa R. H. June 24, 2022
Spectral Med Inc and More at 52-week Highs & Lows (Jun 15-21)
Melisa R. H. June 22, 2022
Stocks rebound ahead of tech earnings
Read Next

Stocks rebound ahead of tech earnings

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Top Reviews

    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
    • The Ugly Truth About Identity Theft – Free Credit Report
      7
  • Popular Posts

    • Air Canada, Shell plc and 19 Stock and 1 ETF Top Picks (Jun 17-23)
    • Spectral Med Inc and More at 52-week Highs & Lows (Jun 15-21)
    • 3 defensive stocks to find stability with your money
    • Greenspace Brands Inc, BlackBerry and More Earnings Reports this Week (Jun 20-24)
    • Markets slide on recession fears
  • Stock Lists

    • 3 defensive stocks to find stability with your money
      June 21, 2022
    • 3 rock stars of the mineral stocks
      June 15, 2022
    • 3 stocks to profit from revenge travel
      June 7, 2022
    • Are tech stocks alive?
      May 31, 2022
    • 3 dividend stocks to fight inflation
      May 24, 2022


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search